BigCommerce Holdings Inc, which designs and develops software for online marketplace, has filed Amendment No 2 to Form S-1 Registration Statement on August 3, 2020 with the U.S. Securities and Exchange Commission to raise the proposed IPO price range of $21 to $23, previously the proposed price range was $18 to $20.
The company plans to raise $198 million by offering 9 million shares. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $1.7 billion.
The company served more than 60,000 online marketplaces from 120 countries as of June 1, 2020. The company simplifies the process of creating online marketplace for its clients and making it more functional and flexible.
The Austin, Texas-based company was founded in 2003 and booked $120 million in revenue for the 12 months ended March 31, 2020. The company plans to list on the Nasdaq Global Market under the symbol “BIGC”. Morgan Stanley, Barclays, Jefferies, and KeyBanc Capital Markets are underwriters of the IPO.
The company engages DLA Piper LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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